Addis Ababa, 27 October 2014 (WIC) – The United Nations Secretary-General, Ban Ki-moon and World Bank Group President, Dr. Jim Yong Kim arrived here today for a two day visit to discuss key development priorities with government officials and development partners.
The visit is intended to a new Horn of Africa Initiative to support regional economic development, peace and security. Dr. Kim and Ban will hold joint meetings with Ethiopian Prime Minister Hailemariam Desalegn later today.
The two officials will also hold discussion with bilateral agencies as well as ambassadors representing countries in the Horn of Africa to discuss how the World Bank and the United Nations can promote inclusive growth and shared prosperity in the region.
Ethiopia is one of the founding members of the World Bank Group. Its current portfolio consists of 25 projects with $6 billion in commitments.
This is the largest country program in the region and among the sectors it covers are energy, roads, agriculture, water supply and sanitation, education, health, social protection and social safety nets.
The private sector arm of the World Bank, the IFC, also provides more than $200 million for investment and advisory services, and plans to invest an additional $300 million.